MUSINSA Q2 Revenue Jumps 31% to KRW 377.7B, Posts Record

Seoul, South Korea - MUSINSA reported second-quarter revenue of KRW 377.7 billion (US$282 million) on Wednesday, an increase of 30.7% from the same period last year.

Operating profit for the quarter ended June 30 was KRW 41.3 billion (US$31 million), up 22.6% year-on-year.

Net income reached KRW 40.8 billion (US$30 million), compared with KRW 7.2 billion (US$5.4 million) in the second quarter of 2024.

For the first half of 2025, consolidated revenue totaled KRW 670.5 billion (US$500 million), up 22.1% from the prior year period.

Operating profit was KRW 58.9 billion (approximately US$44 million), representing a 23.0% increase from the first half of 2024.

Net income for the first half was KRW 37.2 billion (US$28 million), including approximately KRW 40 billion (US$30 million) in non-cash interest expenses resulting from an accounting policy change for redeemable convertible preferred shares. These shares are now recognized as debt rather than equity.

Growth was reported across fashion, beauty, and lifestyle categories.

In June, combined sales from 29CM's "29 Week" and MUSINSA's "Summer Black Friday" promotional events exceeded KRW 340 billion (US$254 million).

Four stores were opened in the second quarter: Musinsa Standard locations at Triple Street Songdo in April, Galleria Timeworld in May, and Shinsegae Premium Outlet Siheung in June, as well as a 29CM Home store in Seongsu in June.

In total, nine stores were opened in the first half of 2025, with offline sales exceeding KRW 100 billion (US$75 million).

A multi-brand store, Musinsa Store Gangnam, opened this month, featuring over 130 fashion brands. Large-format stores are planned for Yongsan and Seongsu by late 2025 and early 2026.

Chief Executive Joonmo Park stated that an emergency management phase was implemented in April to address organizational inefficiencies.

Park said investments in global expansion, beauty, lifestyle, and re-commerce would continue despite anticipated external uncertainties in the second half.

MUSINSA operates the online fashion platforms MUSINSA and 29CM, as well as physical retail stores in South Korea.